Monero hard fork to take place on March 14

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On March 14th holders of private cryptocurrency Monero will receive Ten MoneroV coins (XMV) for each Monero coin (XMR) after the split takes place.

MoneroV hard fork will be introduced ter two weeks spil a result of Monero blockchain code switch. MoneroV developers point out that the fresh cryptocurrency will solve Monero’s scalability kwestie, claiming the transaction size is too big on Monero blockchain.

Among other features, MoneroV will suggest a limited supply of 256 million coins.

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The exchanges are not expected to back up the altcoin right away. To get brand fresh coins, the users will need to have a Monero wallet that provides access to a private key. The official MoneroV wallet will be released some time after the hard fork. Also, developers promised to publish guides and technical tutorials for safe retrieval of XMV from such popular wallets spil Monero GUI (getmonero.org), MyMonero and the Monero RPC.

However, Paul Shapiro, one of MyMonero vrouwen, said that MyMonero will not support any non-native forks of Monero – including MoneroV. Also he added that it might be dangerous to use Monero private keys directly with the MoneroV blockchain and software (MoneroV wallet is a closed-source wallet at present time) ter order to redeem MoneroV coins.

Some analysts estimate XMV could have a potential for growth, but the market of anonymous cryptocurrencies is already congested by several famed competitors – Dash, Zcash, Zcoin, Brink and Pivx.

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Monero has enlargened by 10% ter the last 24 hours. The cryptocurrency rate often spirals up merienda the hard fork news comes out. After all, investors take rente te getting an reserve stack of coins and begin buying beforehand. Ter the same way, the Litecoin price at the end of February went up almost 30% after the Litecoin Specie hard fork wasgoed announced. It happened despite Charlie Lee’s Twitter announcement that the fresh coin is fraud and has no connection to its parent money.